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-   -   What happens if I forget to take my year end distribution from my S-corp? (https://www.askmehelpdesk.com/showthread.php?t=634404)

  • Feb 8, 2012, 03:28 PM
    wilcotech
    What happens if I forget to take my year end distribution from my S-corp?
    I completely forgot to take 0 out my business account and ended up with a HUGE sum in there at the end of my tax year. How bad does this mess me up?
  • Feb 9, 2012, 04:07 AM
    MukatA
    It does not mess your tax return as long as you have reported K-1 income. Take distribution when ever you want.

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